sergey petrossov net worth

Still, despite JetSmarter's aggressive legal bullying, a number of former members have joined a class action lawsuit against the company. He put its revenue in the hundreds of millions, which he hops to double in the next two years. Oh, and he also didn't get the guest pass or any of the other benefits he was promised when he forked over that $97,500 to JetSmarter. People are becoming more and more interested in Sergey Petrossov because of how much money he makes. (Photo by Gustavo Caballero/Getty Images for DuJour). [40], In January 2019, CNBC aired an investigative report on JetSmarter, titled "Tailspin", stating that "JetSmarter tried to be the Uber of private jets, now it faces lawsuits, losses and security questions". 5. Its not every day that you see a 29-year-old at the helm of a billion-dollar company. Petrossov, who was born in Russia but moved to Florida at a young age with his family, struggles to define what has made him hustle through his 20s. How it all began for the 29-year-old JetSmarter founder, and his take on the future of private aviation. (Epstein declined to comment.). TAGS:AIRPLANEAVIATIONFLYFLYINGJETJET SMARTERLUXURYPRIVATE. Im taking on a little extra responsibility, he said. The current CFO is Edward Codispoti, who had previously been chief financial officer at TradeStation. He plays as a right-back for FC Krasnodar. She flew across the country in a Gulfstream IV 13 times. Lots 81-82 Street C These airplanes are severely under-utilized by flying only 200 hours a year when they could be flying 1,200 hours. His goal has always been to have in own company and while still in college, he . His brother was also an employee. He came up with the idea in 2008, when he graduated from the University of Florida. Continue with Recommended Cookies, Your email address will not be published. The CEO of JetSmarter is Sergey Petrossov, the son of Vatchagan Petrossov, who definitely has an Armenian name. Also, today, in the tech age, luxury is transcending past brand to experience. [27] In January 2016, Chicago Tribune reported that JetSmarter had launched app-based private charter service in Chicago, using Midway International Airport as its access point. And down the road, we want to own premium business travel in the United States, he says. The salespeople offered special deals, incentives, and other tactics in what can only be called a "money grab.". [31][32] We think about three pillars: how you get there, who you meet and where you go. JetSmarter was losing money hand over fist so it went through three investment rounds to raise cash. [39] In the same month, JetSmarter agreed to an undisclosed settlement after a New Jersey coupled filed a lawsuit alleging deceptive sales tactics. While many 20-somethings stick it out paying their dues in corporate jobs, Petrossov has enthusiastically moved from one uncertain endeavor to another. If you truly believe in what youre doing, youll get there one way or another., Money Group, LLC Petrossov launched the JetSmarter app back in 2013 and never looked back, its even been referred to by some as Uber for private jets, moving more passengers annually than anyone in the industry. Some flights have security dogs inspecting bags, but many have no security checks at all. Then different membership tiers debuted. To join JetSmarter costs $15,000 a year to gain access, Petrossov said, and members then pay for the flights or other services. This achievement has led to his being one of the worlds wealthiest men. In early 2016, it launched flights within Europe. Founder and CEO, JetSmarter Boca Raton, Florida About Sergey Petrossov Sergey wants to change the aviation business by making private flights accessible to the masses. His wife Lolita ran the day to day business as its CEO. [12][18][19], In December 2016, JetSmarter announced it had raised an additional $105 million at a $1.6 billion valuation. . He realized that if he were to take the industry digital, not only could he revitalize it and make the process easier for everyone involved, but he could significantly cut the cost of private air travel. The aim of the mobile app is to make travel fun, easy and convenient for our members. With businesses like Uber becoming the norm, how do you see the private aviation industry changing in the near future? When it comes to private jets, you think Jay-Z flying for $60,000. Vista said it would maintain JetSmarter's office in Ft. Lauderdale where its digital team was based. I moved to South Florida when I was 11 or 12. Sergey Petrossov. She was told the membership included free flights under three and a half hours, a discount on longer flights, and the potential to bring up to three guests. You have this multibillion-dollar industry that was completely analogue, he says. Petrossov launched the JetSmarter app back in 2013 and never looked back, its even been referred to by some as Uber for private jets, moving more passengers annually than anyone in the industry. Petrossov loves to fly and has traveled all over the world. It's been a wild few months for Sergey Petrossov, the 28-year-old founder and CEO of JetSmarter, which hopes to be the Uber of private jet service and has gained high-profile investors like the. We spend a lot of time asking members to spread the word. With the price point and appeal of the luxury experience, the private aviation industry will grow enormously. Where and how did you raise capital for the company? // < ! Jet Life: Sergey Petrossov - VUE magazine Sergey Petrossov, Advisor, XO JetSmarter aggregates. Today the company -- which bills itself as the Uber for private jets -- has 14,000 paid members paying up to $15,000 a year for perks that include the ability to schedule flights and share seats on jets scheduled by others. Terms of the transaction were not disclosed. He believes in the potential growth of the industry and apparently so do his investors, including the likes of Jay-Z and the Saudi Royal Family. That revelation inspired the 29-year-old entrepreneur to launch JetSmarter a start-up that allows people across the globe to book trips on a private jet using its mobile app. That membership goes for $50,000 a year. Unique services offered by JetSmarter include the option of booking free seats on scheduled shuttle routes or creating shuttles between certain cities, free flights to new destinations daily from members favorite cities and real-time private jet booking with guaranteed availability in more than 170 countries. Sergey Petrov - Player profile 22/23 | Transfermarkt I went to the University of Florida and studied finance. He says the company has annual revenues of over $200 million, meaning its top customers probably represent about two-thirds of its revenues. Lets meet them, AirOps raises $7M to bring the power of AI to the workplace, Tech Talent Coalition workgroup aims to expand training and hiring opportunities for our local diverse talent, Say goodbye to in-person tours: Check out a home for sale from the comfort of metaverse startup Propyverse, At packed Venture Miami Tech Hiring Fair, breadth and depth of Miami movement on full display. JetSmarter was losing about $22,000 on a shuttle flight between Los Angeles and New York. That was my first experience working with engineers and I learned with technology how much value you can bring in a short amount of time. The shuttles were a big success. [7][8] In August 2012, the beta version was launched and tested among a closed group of private aviation users. Follow @ndahlberg on Twitter and email [email protected]. Its about personalization and what I call predictive hospitality. He is seeking a refund and damages. Sergey Petrossov: JetSmarter's Youngest CEO and - Eddusaver What was your background prior to JetSmarter? Basically, they are bullying anyone critical of the company. Sergey Petrossov, Jetsmarter Inc: Profile and Biography The company has also been known to sue journalists for writing articles critical of the company if they do not take down the article. JetSmarter told Galvez that if he bought it now, he could get three years for $97,500. Connect with Sergey Petrossov: Twitter | Facebook | LinkedIn | Instagram | YouTube, A weekly download of the latest product launches, technology news, innovations in medicine, and more, about 70 percent of all private jets were empty. Is the CEO of Turkey's Newest U.S. PR Firm Really Armenian? In August 2018, a Los Angeles-based former member of JetSmarter filed a lawsuit seeking at least $2 million in damages from JetSmarter after the company refused to renew his membership. His success has come from the rising of hard work. Members who pay $9,000 a year, for instance, can get cheaper deals, whilst travellers can charter an aircraft and share the cost with others who seek the same itinerary. Sergey is most known for founding JetSmarter. JetSmarters goal is also to utilize those passenger-free flight hours and fill them. With JetSmarter, he focuses on how to make air travel more convenient and accessible, but also on how to improve the lifestyles of his members the biggest draw of JetSmarter for a lot of its members is being able to fly privately with other like-minded individuals who place a lot of importance on style and luxury. You can update your choices at any time in your settings. JetSmarter was founded by Moscow-born Sergey Petrossov, who moved to South Florida as a teen, graduated from the University of Florida and launched JetSmarter in 2012 when he was in his early 20s. The company faces unknown costs from the lawsuits and refunds, the class action lawsuit, and the outcome of the investigations by the FAA and FBI. Then, last month, its president, Edward Gennady Barsky, resigned his post after being arrested in Florida on February 16 on charges of grand theft by embezzlement, according to the Broward County Sheriffs Office booking report. As an entrepreneur, Petrossov focuses heavily on two things: maintaining his professional network and building a trustworthy, relatable brand and story. Peoples lifestyles are continuously enhanced by technology, so Petrossov never stops thinking about how to make the most of all of the gadgets and devices that people have at their fingertips. [2][3][4] The company was purchased by Vista Global in 2019 and merged into a new brand, XOJET Aviation. My membership meant nothing anymore. You heard it here first. Petrossov's family, however, profited handsomely. Intrigued and determined to find a way to make the private flight experience much more convenient, he started researching the industry and formulating solutions. It also said it had eliminated free shuttles and for new members, it had eliminated free flights under three hours. It turned out that flight wasn't free as promised. In order for JetSmarter to keep flying, it had to keep recruiting active members. Sergei Petrov - Wikipedia What was your vision? Mark Zuckerberg. All Rights Reserved. Manage Settings Kim Kardashian, Kanye West, and DJ Khaled are customers of JetSmarter. The report included a video of a JetSmarter flight that was diverted by a passenger making terroristic threats.[41]. It supported chat for audio and video for website customer service. For Petrossov, his vision is one that goes beyond mere name recognition and service. Pretend youre 80 years old and looking back on your lifehow would you feel if you didnt try anything? He filed a lawsuit against JetSmarter and its salesperson. It projected that membership would grow from 5,839 in 2016 to more than 100,000 in 2019. He noted that the company had recently added access to 8,000 luxury homes (and villas) to its system. ", "JetSmarter faces lawsuits, losses and security questions", https://en.wikipedia.org/w/index.php?title=JetSmarter&oldid=1149578250, Companies based in Fort Lauderdale, Florida, Ridesharing companies of the United States, All Wikipedia articles written in American English, Creative Commons Attribution-ShareAlike License 3.0, Sergey Petrossov (CEO), Gennady Barsky (President). Petrossov formed relationships in aviation by going to trade shows. What was your vision for the mobile app? About a year ago, Leonardo Galvez received an offer from JetSmarter that was too good to pass up. Posts Videos Tagged. Sergey Petrov, 32, from Russia FK Krasnodar, since 2012 Right-Back Market value: 1.00m * Jan 2, 1991 in St. Petersburg, UdSSR Trial and error drive progress and are at the heart of innovation. The consent submitted will only be used for data processing originating from this website. The idea was so simple it seemed impossible that someone hadn't thought about it before. Sergey Petrossov - Forbes He was told he'd have to pay 75% of the cost of his flight. If a friend says JetSmarter is the best, the trust factor goes up. Founder Sergey Petrossov said in the brokerage industry, "there's very little transparency." With the JetSmarter app, consumers can see the prices anywhere from $5,000 to $600,000 for a . The Russian-born Florida resident aims to change the landscape of private aviation by making it more attainable and efficient than ever before. Your education and upbringing? We just launched within the app an events and experiences section that allows members to book curated point-to-point experiences that cant be found elsewhere. A Luxury Guide to a Long Weekend in Istanbul, Sjefke Jansen on His New Role as GM of Anantara Kihavah, Le Commandant Charcot: The Worlds Only Luxury Icebreaker, The McLaren Paddock Club: Feel the Beating Heart of Formula 1. Have news? With JetSmarter, youll no longer have to go through the TSA lines with unreasonable wait times, or have to deal with uncomfortable airplane seats well get you to your destination with comfort and ease. Airplanes could fly five to seven times more if they were efficiently run, he said. In 2016 it started eliminating the free helicopter service as well as catering on the flights. Sergey Brin Cofounder and board member, Alphabet $88.5B Real Time Net Worth as of 4/29/23 #12 in the world today Photo by Kelly Sullivan/Getty Images for Breakthrough Prize About Sergey. When JetSmarter debuted, it was touted as a disruptor in the aviation industry. There is no such thing as a typical day for Petrossov. We are continually looking at ways and means to expand our offerings within the region, and globally. Dont give up, he says. I am a writer and editor with extensive media experience and a passion for journalism and serving the community. Over the years, JetSmarter has attracted investments from Jay-Z, the Saudi Royal family, and execs from Twitter and Goldman Sachs. He alleged misleading advertising on social media from Kim Kardashian and Petra Nemcova as well as deceptive sales tactics. Jay-Z's Private Jet Startup "JetSmarter" Just Raised $105 Million In Series C Funding, Jay-Z And Saudi Royalty Invest In 'Uber For Private Jets' App. JetSmarter was basically throwing cash on the fire and watching it burn. Their lawsuit included a text message from a JetSmarter sales representative promising free flights they allege were never provided. All while avoiding the hassle and headache of airport security screenings. The company had no comment on The Verge reporting or Barsky's exit for this story. He decided to organize planes in a digital fashion with high utilization and a lower cost of entry.. Where and how did you raise capital for the company? In 10 years, I think theres a big opportunity as you move into shorter-distance flights where we can actually deliver a much broader, mass-market solution, where you can actually serve customers at $500 a seat, he says. The membership agreements customers signed barred them from making any negative comments about the company or its executives in any way something that is very unusual in the aviation industry. JetSmarter customers can charter a plane buy buying a minimum number of seats usually three or four and then JetSmarter sells the rest of the seats to other customers. There are lots of hard times, but I found that, no matter how difficult something is, you should keep falling, and if you keep getting back up and move forward, its virtually impossible to fail unless youre physically incapacitated., That doesnt just apply to him, he adds, but among the great entrepreneurs, it comes back to perseverance.

Keynote Fonts Missing, Jack Friedman Obituary, Is William Schulder Still Married, Articles S